It's up to you and what you want to do? How much equity do you have in your current home? What's the real estate market like in your area, or how hard will it be to get your money out of the current home? You say the tillable ground is rented, for how much (cash flow is cash flow it could help cover the debt or your property taxes) Wooded land? what's the market for timber in your area, do you have marketable timber.
I guess what I'm saying is don't look only at the debt but look at revenue the farm could or would throw. Heck were I live in Iowa if your folks still had the 200 acres they'd probably be able rent it for close to $60,000 a year
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Today's Featured Article - The David Brown Rose Badge - by Samuel Kennedy. In the 13th century civil war was raging in England. Two English noblemen were involved in a conflict which became known as the War of the Roses. The Duke of York had as his emblem a white rose and the Earl of Lancaster had a red rose. Today the white rose is the official emblem of the county of Yorkshire and the red rose has been adopted by the neighboring county of Lancashire.
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